A federal bankruptcy judge has signed off the the sale of Hebrew Health Care to a major Connecticut nursing home operator.
As of Dec. 19, Hebrew HealthCare, a 257-bed skilled nursing home in West Hartford that filed for Ch. 11 bankruptcy reorganization in August, will be acquired by National Health Care Associates (NHCA), which owns or operates more than a dozen nursing and rehab facilities across Connecticut, NHCA announced Thursday.
In a statement, NHCA President Marvin Ostreicher called Hebrew HealthCare “an exciting complement” to his company’s four other skilled nursing centers in Greater Hartford.
“…we are delighted we were able to negotiate this sale and keep the center open to serve the community,” Ostreicher said.
Judge A. Julie Manning approved the proposed sale on Dec. 13. Under the terms of the deal, NHCA will assume millions in mortgage liabilities and other costs and will enter into a leaseback arrangement with Hebrew HealthCare, according to court records.
Hebrew HealthCare indicated at the outset of its bankruptcy filing that it wanted NHCA to operate its facilities.
Hebrew isn’t the only Connecticut operator that has faced headwinds this year. Affinity Healthcare Management filed for its second bankruptcy in eight years, and at least two nursing homes have been shuttered – following a years-long downward trend in patient volumes.
